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Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
 The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax segments were higher week on week, with the first gaining 19.22% and the latter 2.77%. Thus, capesize owners had plenty to cheer for in the previous week, a development not quite expected with China effectively out of the market, due to holiday reasons. Still.
As the weekly report from Commodore Research & Consultancy said, “a larger than expected amount of iron ore fixtures came to the market last week which helped propel Cape rates. 31 ore fixtures were reported, only 4 less than the previous week. 24 of the fixtures were for capesize vessels, which was actually 4 more than the previous week. Expectations had been for a moderate decrease in overall ore fixtures due to China’s week-long National Day holiday, but Chinese iron ore fixtures remained relatively firm. A healthy amount of iron ore fixtures from buyers outside of China also helped Cape rates find support. 13 vessels were charted to export iron ore to buyers in countries other than China, 7 more than the trailing four week average. 18 vessels were chartered to export iron ore to buyers in China, 4 less the four week average” said the report.
Meanwhile, iron ore demand and related spot prices have been able to hold steady even as the Chinese government continues to partially restrict electricity allocation to steel mills. These restrictions have lessened recently, though, and going forward Chinese steel mills are expected to slowly increase steel production.
“Market sentiment has slowly improved, evident by last week’s increase in period deals. Market players had previously been spooked by the electricity restrictions in China but iron ore demand has managed to remain relatively firm. Two weeks ago, the 11 period fixtures concluded last week were the lowest amount of period fixtures reported in a single week since the week ending July 16. At that time, dry bulk spot rates were near 2010 lows. Last week marked the first time since early September, however, that week on week period chartering activity increased”. In total, Commodore reports 118 spot trip fixtures for the week (nine less on the week) and 17 period fixtures (six more than the previous week).
In another weekly report, N.Cotzias Shipping Group examined the potential overcapacity of dry bulk tonnage and how it will impact the freight markets. According to Cotzias, the expected ships until the end of 2010 are alarming, with 6 VLOC’s of 1.8 million tons, 61 Capes of 11 million tons, 21 Post Panamaxes of 2.1 million tons, 74 Panamaxes of 6 million tons, 153 Supramaxes of 9 million tons, 7 Handymaxes of 300,000 tons, 201 Handies of 6 million tons and 221 bullkers (between 10,000 and 20,000 dwt) of 2 million tons, not to mention an additional smaller dry bulk carriers (including MPP, General Cargo) of 400,000 tons. In total until the end of the year, the additional carrying capacity of the global dry bulk fleet, based on the expected deliveries should be 38.6 million tons, a figure difficult to be offset by the increased cargo demand. Of course, the economies of the developed world haven’t to contribute to global shipping trades, with China still ruling the fortunes of rates.
For the time being, “the effects in the freight markets of the Russian grain embargo, and the closure of 10 major ports following the Karnataka ban in India, are fairly visible and the added per ton mile, that has altered the typical trading routes seem to have added on the positive side, keeping the freight levels to acceptable, fairly good levels that are for the time being balancing the added influx of tonnage that has already become part of the world active fleet. We expect that this added dynamics of the market together with some much awaited improvement from the developed world, whose economies are not really feeding with steam the global shipping trades, would be the wishful expectations from either Q4 2010 or even better Q1 2011” said Cotzias.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
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